• Business degree or equivalent IT and Cyber qualifications or studying towards
• RE and FAIS compliant
Required Experience/ Required Knowledge and Skills (relevant or in a similar role)
• Specialist underwriting experience with at least 3 years’ experience (Cyber advantageous) including:
o Product knowledge
o Industry segmentation knowledge and applicable risk exposures
o Enquiring mind – seek out additional information in order to best understand a risk before underwriting such risk
o Underwriting procedure
o Insurance terminology
o Rating principles
o Risk Management
o Market knowledge (including competitors)
o Claims procedure
o Credit Control
o Reinsurance market, reinsurance and treaties
• Willingness to develop new underwriting experience in respect of new products introduced
• Business management
• Self-management (can organize work space, time…)
• Good communication (including writing and presentation skills)
• Negotiation (internal & external)
• Sales and marketing
• Relationship management skills (have the right approach with the right people)
• Analysis and interpretation of data pertaining to assigned risks
• Well-presented / representative of the company image
• Good knowledge of MS Office – Intermediate level (including Word, Excel, PowerPoint, Outlook)
• Career orientated
• Knowledge of the Core Business Systems
• Ability to work overtime and attend functions
Underwrite cyber risk Insurance.
• Adhere to individual underwriting mandates and guidelines to ensure responsible underwriting and profitability of their portfolio
• Approve risk selection within the boundaries of the specific product line. Quote, accept and renew risks within the agreed guidelines of the service level agreement and within delegated mandates
• Combination of both internal and external relationship development on all liability products and services to brokers, resulting in renewals or sales
• Action all requests from credit control team
• Re-underwrite renewals to ensure organic growth and maintain profitability of portfolio
• Develop and maintain effective business relationships brokers in order to attract, develop and retain profitable business.
• Ensure all technical aspects and administrative functions of underwriting are adhered to.
• Train and mentor the team and brokers on product lines
• To assist in placing risks that falls outside of the scope of treaty reinsurance, into other markets locally and overseas
• Analyze qualitative and quantitative data prepared by and brokers to provide approval for risk selection and acceptance, coverage and price.
• Recommend creative alternatives in regards to rating plans, coverage and payment plans. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
• Decline unsuitable risks (and log these on the decline register for record purposes).
• Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system.
• Meet goals for volume and value of quality new business quoted and written within company guidelines.
• Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
• Service, grow and maintain renewal policies and re-underwrite where required
• Confirm rating and cover on endorsements requested.
• Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
• Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control and sales team.
• Interact on a day-to-day basis with brokers.
• Customer service: Provide timely and professional customer service to stakeholders.
• Effective communication: Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
• Market Intelligence: Sound knowledge of underwriting principles in industry.
• Innovation: Participate with management in initiatives around product development, processes, policy and strategy.
• Continuous Process Improvement: Ensure full compliance to all processes, policies and procedures and identify areas for improvement.
• TCF: Ensure that customers are treated fairly.
• Employee Growth: Take responsibility for your own career growth and have regular discussions with relevant role players. Train junior underwriters on product lines to assist in their career growth
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